Measure Every Project’s Profitability
Determine which projects are worth pursuing with past performance data and forecasts.
CHOOSE PROJECTS WITH CONFIDENCE
Anticipate Your Return On InvestmentNot every available project is worth pursuing; some are going to have a higher profitability index than others. As a project manager, it’s your responsibility to weigh opportunities against each other by accurately forecasting costs, billings, and timelines. With ClickTime, you’ll have the tools to estimate every initiative’s ROI.
Analyze Past Projects
Understand Historical Data and TrendsBy taking a look at historical data, you’ll gain a better understanding of which projects are your most profitable. ClickTime’s built-in Business Intelligence Tool allows you to analyze your time and expense data using charts, graphs, and other useful visualizations.
Invest in projects that yield results
Build Accurate ForecastsWith the ability to view upcoming capacity, ClickTime allows you to create accurate project models. Our system contains both employee cost and billing rates, showing you the exact ROI that future projects will yield.
Create unique billing models for unique situations
Bill Your Projects Your WayNo matter which billing model you choose, you’ll find that ClickTime has you covered with our flexible billing options. The path to profitability may not look the same for every client you work with. Some clients may be great to work with using a fixed project rate. Others may be worth additional time and effort, warranting a monthly retainer. And then there’s those who should always be billed by the hour. No matter what billing model you choose, ClickTime has you covered with our flexible billing options.
Create unique billing rates for every employee, project, task, and combination you can think of.
Avoid overservicing your retainer clients by monitoring every hour and dollar spent on their projects.
Budget by the hour, or budget by the dollar. Either way, you’ll track work against a fixed cost.
Keep track of every cost – including hidden ones
Account for Every Project Expense And Manage WorkloadsHidden costs – such as executive time, impromptu team meetings, or small client requests – go unaccounted for. These missed expenditures quickly add up, distorting your view of profitability. With ClickTime, you’ll account for every outlay, giving you complete transparency into your project financials.
Automatically calculate the hourly cost of both exempt and nonexempt employees.
Create custom overtime pay rules for different employment types, and monitor extra hours in real time.
Don’t let additional client requests go unaccounted for; track them by adding project phases.
RESOURCING EMPLOYEES IN THE BEST WAY POSSIBLE
Use Your Resources WiselySuccessful managers know how to get the most out of their team. With ClickTime, you’ll get complete visibility into your workflows, so you can optimize your most precious asset: your team’s time. We make sure that every meeting provides value, every billable hour is recorded, and every employee has a healthy workload.
Assign Project Hours: With our Resource Planning tool, you can assign employees project hours that will show up in their time tracking dashboard. This way, they’ll always know what they should be working on.
Create Billing Goals: Show your employees what success looks like by creating billing goals. These goals will show up in their Employee Performance Dashboard, indicating how close to attainment they are.
Monitor Utilization Rates: There’s a fine line between being overworked and underutilized. By tracking both billable and nonbillable project hours, you’ll be able to see how productive each of your team members are.
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FAQs
The measure of a project’s or investment’s attractiveness in terms of ROI. The PI is calculated by dividing the present value of future expected cash flows by the initial amount invested in the project.
Gross profit margin is the gross profit divided by total revenue, multiplied by 100, to generate a percentage of income retained as profit after accounting for the cost of goods. Whereas net profit margin is the percentage of net income generated from a company’s revenue.
Utilization is the amount of employees’ available time that’s used for productive, billable work, typically expressed as a percentage.
Scope creep refers to changes, continuous or uncontrolled growth in a project’s scope, at any point after the project begins.
An SOW is the narrative description of a project’s work requirement. It defines project-specific activities, deliverables, and timelines for a vendor providing services to the client.